Singapore Family Office Hires Seven to Manage Rich Asian Assets
(Bloomberg) — Kamet Capital Partners Pte is on a hiring spree as the Singapore family office tops $1 billion in assets for the wealthy clients it serves in Asia.
Kamet has hired seven people since April, bringing total headcount to 25, Chief Executive Officer Kerry Goh said in a phone interview Thursday. Two more staff will be added by September, said Goh, whose firm runs money for four families.
Among the new recruits are Wilson Er, a portfolio manager from Rockpool Capital Ltd. in Hong Kong, and David Law, a money manager and analyst at Mizuho Asset Management Co. in Singapore. Er, Law and two analysts join the investment team, while three others will help with administrative needs of the families, who are from China and Southeast Asia, he said.
Kamet’s growth underscores the boom in Singapore’s family-office industry, which counts billionaires including James Dyson and Haidilao International Holding Ltd. co-founder Shu Ping, who have opened offices to manage their fortunes in the city state.
Singapore is battling a deep recession triggered by the Covid-19 global pandemic that forced the government to impose a partial lockdown that shut most offices through June 1.
“We are buying and investing a lot for our clients, especially during the Covid period where we saw opportunities in equities and alternative assets,” said Goh, who used to manage client portfolios at Julius Baer Group Ltd. in Zurich. Kamet is also looking to invest in a health-care business in Thailand during the second half of the year, which would be its third private investment since the virus spread, he said.
Kamet’s clients are mostly first-generation entrepreneurs of businesses that include technology, consumer goods and hospitality.
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